Vivid Seats (NASDAQ:SEAT) Given New $3.00 Price Target at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price objective decreased by Benchmark from $6.00 to $3.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Benchmark currently has a buy rating on the stock.

SEAT has been the topic of a number of other reports. Morgan Stanley cut their target price on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Raymond James downgraded Vivid Seats from a “moderate buy” rating to a “hold” rating in a report on Thursday, March 13th. Canaccord Genuity Group decreased their target price on shares of Vivid Seats from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada reduced their price target on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Finally, William Blair cut shares of Vivid Seats from an “outperform” rating to a “market perform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.49.

Vivid Seats Price Performance

Shares of NASDAQ SEAT opened at $1.76 on Wednesday. Vivid Seats has a twelve month low of $1.66 and a twelve month high of $5.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a 50-day moving average of $2.88 and a two-hundred day moving average of $3.64.

Vivid Seats (NASDAQ:SEAT) last issued its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $164.02 million for the quarter, compared to the consensus estimate of $169.99 million. Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. As a group, research analysts expect that Vivid Seats will post 0.12 EPS for the current fiscal year.

Institutional Trading of Vivid Seats

Hedge funds and other institutional investors have recently modified their holdings of the company. Equitable Trust Co. grew its stake in Vivid Seats by 17.1% in the first quarter. Equitable Trust Co. now owns 156,260 shares of the company’s stock valued at $463,000 after purchasing an additional 22,775 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Vivid Seats by 39.2% during the 1st quarter. Teacher Retirement System of Texas now owns 93,930 shares of the company’s stock worth $278,000 after purchasing an additional 26,441 shares in the last quarter. Emeth Value Capital LLC grew its stake in shares of Vivid Seats by 19.4% in the 1st quarter. Emeth Value Capital LLC now owns 5,997,854 shares of the company’s stock valued at $17,754,000 after buying an additional 976,362 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in shares of Vivid Seats in the 1st quarter valued at approximately $70,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Vivid Seats by 61.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,278 shares of the company’s stock worth $673,000 after buying an additional 55,478 shares during the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

About Vivid Seats

Vivid Seats Inc operates an online ticket marketplace in the United States, Canada, and Japan. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for sports, concerts, theater events, and other live events.